Packaging Printing Inks Market Good Opportunity to Hit New Growth Level 2020-2026
New York, NY 10 June 2020 : The global packaging printing ink market is anticipated to reach USD 13.45 billion by 2026 according to a new study published by Polaris Market Research. Packaging printing inks market is driven by the tremendous growth of the global packaging industry. These printing inks are used on different packaging materials such as paper, plastics, metal, rubber, and others. Packaging printing inks also cater to the demand of large end-use industries for packaging such as food & beverage, pharmaceuticals, and industrial packaging.
The growth of the packaging industry is mainly led by numerous trends in different end-use sectors. Such as flexible packaging in food & beverage industry that is available for consumers with greater choice in pack sizes for portion control in snacks & confectioner segments of the food & beverage industry. Health-led consumption trends concerning bottle packaging is instrumental to gains in tandem with the consumer demand for safe packaging materials.
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Different types of printing ink processes are used for applying packaging printing inks on to the substrates. Flexographic process has witnessed growth on account of its application in corrugated boxes, folding cartons, tag & labels, and narrow web. This has also resulted in higher growth for flexible packaging segment. Gravure is mainly used for paper print packaging materials.
The global packaging printing ink market has also witnessed growth prospects on account of continuous technological developments. High color strength water-based flexo, 100% VOC free EB flexo, improved UV blocking packaging inks, and nanographic printing technology are among some of the recent developments in the field. Advancements in resin materials such as use of plant-derived resins in the formulation of these inks is also a significant contributing factor towards higher growth.
Packaging printing ink market is subjected to regulatory framework and policies as some of the ink formulations are known to have harmful impact. Food and pharmaceutical packaging are the most affected end-use segments if the ink formulation contains volatile organic compound or is a solvent-based ink. International agencies such as EPA, REACH, and Food and Agricultural Organization (FAO) have initiated and implemented different policies for the use of water-based or safe packaging printing inks.
Asia Pacific is a major regional market for the packaging printing inks market. China, Japan, and India are the major contributing nations towards the growth of this region in packaging printing ink market. Different regions of the world make use of different types of packaging printing inks processes. North America and Europe are also mature regional markets due to their advanced packaging industries.
The global packaging printing ink market comprises of large multinational and domestic companies. Some of the key packaging printing ink market players include PPG Industries, Inc., AkzoNobel NV, Flint Group, Valspar Corporation, Sun Chemical Corporation, Siegwerk Druckfarben AG & Co., ALTANA, Sakata, Toyo Ink, Nippon Paints, Arkema, and ColorMatrix.
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